Golden State Wealth Management LLC Acquires Shares of 1,561 Salesforce, Inc. (NYSE:CRM)

Golden State Wealth Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,561 shares of the CRM provider’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at about $27,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC boosted its stake in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Friedenthal Financial acquired a new position in Salesforce during the fourth quarter valued at approximately $55,000. Finally, Rosenberg Matthew Hamilton increased its stake in Salesforce by 88.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after purchasing an additional 83 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 1.5 %

Shares of NYSE:CRM opened at $325.81 on Friday. The stock has a market cap of $311.80 billion, a PE ratio of 53.59, a P/E/G ratio of 3.09 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business has a 50 day moving average of $339.05 and a 200-day moving average of $299.87.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRM. UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $377.63.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.